LONDON - The closure of the Strait of Hormuz has left over 1,200 cargo ships stranded with goods worth 125 billion US dollars, the Financial Times reported on Wednesday, citing the latest report from insurance firm Allianz.

Ship traffic slows in the Strait of Hormuz as US-Iran tensions rise, conflicting claims cloud oil flows, and energy markets brace for potential disruption.

NEW YORK — Ship traffic has picked up in the Strait of Hormuz since Iran and the U.S. signed an interim deal to end a war that constricted global o...